Excerpts from Mr Tan Kin Lian’s speech:
“Somebody asked me, Mr Tan, is it possible to get back 100% ?
Honestly, I don’t think so. Because already the underlying assets,
so many have already failed. Before Lehman Brothers went under, the
value has dropped below 50%.”
“Hong Kong asked the banks to buy over, is that good or no
good. But it depends buy over for how much. According to what I
read, buy over at market value is no good. Market value today is
only 10 to 15%. You might as well take the risk and wait. But if
they over 70 or 80%, I think it is worthwhile.”
Mr (?) Siew Ong Koh (rushing to the stage before Mr Tan left to
hand over a “plaque” to him):
“Ladies and gentleman, let’s thank Mr Tan. I have one word. Now
I have one way. Through legality, we are all lost. But we are
looking for a response from the people. Who are responsible ? The
Top Top, the Fat cat, or MOF or another honest mistake !”
Watch the rest of videos here:
Part 2: http://wayangparty.wordpress.com/2008/10/25/mr-tan-kin-lian%e2%80%99s-speech-at-hong-lim-park-part-2-25-oct-2008/
Part 3: http://wayangparty.wordpress.com/2008/10/25/mr-tan-kin-lian%e2%80%99s-speech-at-hong-lim-park-part-3-25-oct-2008/